BuySellSeriesEA is a trading system that promises high monthly profits with accurate precision. This is a fully automated system that does not require manual intervention for the execution of trades. Other claims of the vendor include proven profitability, unparalleled technical support, free updates, and more. The vendor states that the high profits are based on market volatility.
Is this a Perfect Trend System robot still good to go?
The official website provides very little info on the developer or the team behind this EA. In the About Us section, instead of providing vendor/developer details, an online contact form is present, which is also found under the Contact Us section of the site. However, the MQL5 site has details on the developer. Chukwudi Joshua Obiekwe is the developer of this FX EA. He is from Nigeria and has 3 years of experience in trading. Obiekwe has developed two products, 5 signals, and 151 demo versions.
The recommended currency pairs include EURJPY and GBPUSD, although the developer maintains that the system can be used on other currency pairs. This EA uses a strong trend analyzing approach using the candlestick pattern and news filter setting. Unfortunately, there is no further explanation for the approach.
How to start trading with BuySellSeriesEA
To use this FX EA, you have two options. One is to rent it at the cost of $200, or you can purchase the software for $700. As per the vendor info, the packages come with an unlimited number of demo accounts, free updates, and free 24/7 support. Installing the software takes less than three minutes as per the vendor.
The minimum balance needed is $100 and the broker recommendation includes the use of a broker with a maximum spread of 2 pips. However, the developer states that in case of a higher spread you can adjust the spread settings.
This ATS uses two risk settings namely default and defined settings. With the defined settings you can adjust the parameters as per your balance to raise or reduce the risk.
BuySellSeriesEA backtests
No backtests are present for this ATS. As per the developer, to know about the real performance, it is not the backtests that are needed, but real forward testing of the EA. Despite the developer’s opinion, backtests do have a crucial role in assessing the performance of a trading tool. The absence of the backtests raises doubts about the reliability of the FX EA.
Trading results
A few real account trading results are provided by the developer. Here is one of the live real account results using the FBS broker and the leverage of 1:500 on the MT4 platform.
From the above stats, we can see the account has generated a total profit of 162.33% and an absolute profit of 103.4%.The discrepancy may be due to the withdrawal of $200 from the account, but it still looks suspicious. A daily profit of 1.35% and a monthly profit of 48.91% are present, which are high values and denote a risky approach. The drawdown of 90.13% confirms our suspicion that the strategy is not effective. Furthermore, the sample size showing account activity from June 2021 to August 2021 is very small. The high drawdown in such a small sample is another indication that the performance and strategy used are poor.
A total of 575 trades have been executed with a profit factor of 2.14 and profitability of 79%. The developer has hidden the lot size and lots of info, which is another factor that confirms our suspicion about the poor performance.
People Feedback
We could not find user feedback for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, MQL5, etc. The lack of reviews indicates this is not a well-known system and that traders are wary of investing in the FX robot. Some factors that deter users include the expensive price and the poor performance of the EA in the real trading performance.
Wrapping Up
Advantages
- Fully Automated EA
- Verified trading results
Disadvantages
- The strategy is not explained
- Poor performance in real trading
- Expensive price
Summary
BuySellSeries EA claims to provide high profits with its accurate trade execution. Our evaluation of the features, strategy, and performance reveals the claims are not true. From the real trading results, we can see the high drawdown and hidden information on the lots used are a clear indication of poor performance and risky strategy. The lack of backtesting results and inadequate customer support are other factors that make us suspect the dependability of this FX robot. Furthermore, the expensive price that does not come with a money-back guarantee confirms our suspicion that this is not a trustworthy expert advisor.
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